NEW YORK -Aeropostale says trading of its shares on the New York Stock Exchange has been suspended and that the exchange is moving to delist it.
The troubled teen retailer announced Friday that the NYSE has decided to start proceedings to delist its stock because of an "abnormally low" trading price.
Aeropostale Inc. said that it doesn't plan to appeal the delisting determination and will start trading Friday on the OTCQX Best Market under the symbol "AROP."
Last month Aeropostale announced that it was looking at several strategic options, including selling itself or restructuring the New York-based company. The chain has been struggling with falling sales for several years as more teens flock to so-called "fast-fashion stores" such as H&M and Forever 21.